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Intel plans to launch new Bitcoin mining processor in 2022

 


Raja M. Koduri, Intel's Vice President of Accelerated Computing Systems and Graphics, has announced that the market-leading chipmaker will release a processor specifically tailored for crypto mining later this year. Intel previously announced that the next generation of mining devices based on ASIC chips will be unveiled at the upcoming International Solid-State Circuits Conference.


In this context, the large chip manufacturer also wants to set up its own department under the aegis of Koduri, which will specialize in the development of chips for blockchain mining and supercomputers.


The targeted mining chips are said to have up to 1,000 times the performance per watt of the chips used to date. Currently, graphics processors (GPUs) that are encrypted with SHA-256 are mainly used to mine cryptocurrencies, including the market leader Bitcoin. In light of these plans, Intel states:


“Argo Blockchain, BLOCK (formerly known as Square) and GRIID are among our first high-profile clients in the crypto space. The architecture of the new chips requires only minimal changes in manufacturing and will therefore not significantly affect our production processes.”

Intel's efforts in the crypto market have so far been relatively muted, although the demand for custom processors is increasing as graphics cards can't provide the performance they need. So far, the graphics card manufacturers Nvidia and AMD are still leaders, but this could possibly change soon with the market entry of Intel. Apart from a small investment in the Coinbase crypto exchange , the chip manufacturer still has relatively few points of contact with the industry.

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